NOT LISTED FOR SALE

2620 E 3rd St Montgomery, AL 36107

Forest Park Neighborhood

Estimated Value: $558,600

Studio
1 Bath
-- Sq Ft
9,801 Sq Ft Lot

Last Sold September 21, 2022

Last sale price $305,000

Est. 83% increase in value since last sale

Current estimated payment $3,154/month

116 Days on Market

Highlights

  • Wood Flooring
  • Eat-In Kitchen
  • Central Air
  • No HOA

About This Home

As of September 2022

A NICE Multi-family situated just off Zelda Rd near I-85 and Ann St! This former Dance Studio has been remodeled into 5 studio apartments - 100% Leased and Cash Flowing! New EVERYTHING! Kitchen appliances, cabinets and countertops, tile bathrooms and showers, resurfaced hardwood floors, Mini-Split AC Systems, Common Laundry Area and Common Lobby Area. You could house hack with this property by living in one and renting the others! Great location & beautiful upgrades! Tour this one soon and get ready to own a great investment property with unlimited potential and upside!

Last Agent to Sell the Property

Jamie Thompson

EXIT Garth Realty License #0085892 Listed on: 05/23/2022

Last Buyer's Agent

Jamie Thompson

EXIT Garth Realty License #0085892 Listed on: 05/23/2022

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1935

Lot Details

  • 9,801

Home Design

  • Slab Foundation
  • Stucco

Interior Spaces

  • 2-Story Property
  • Wood Flooring
  • Eat-In Kitchen

Utilities

  • Central Air
  • Heat Pump System
  • Electric Water Heater
  • Municipal Trash

Community Details

  • No Home Owners Association
  • 5 Units

Listing and Financial Details

  • Tenant pays for electric, water/sewer
  • The owner pays for insurance, pest control, taxes
  • Assessor Parcel Number 03-10-05-16-03-012-001000

Property Details

Home Type

Multi-Family

Year Built

Built in 1935

Lot Details

9,801 Sq Ft Lot

Listing Details

  • Property Type: Multi-family
  • Design: 2 Story
  • Year Built: 1935
  • New Construction: No
  • Information: Brochure Available
  • Unit Type: See Remarks
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Dining Area Feature: Eat-In Kitchen
  • Flooring: Wood

Exterior Features

  • Construction: Stucco
  • Foundation: Slab
  • Pool: No

Utilities

  • Cooling: Central Electric
  • Electric Authority: Alabama Power
  • Heating: Heat Pump
  • Sewer: Public Sewer
  • Trash Services: City
  • Utilities: Electric Power
  • Water: Public
  • Water Authority: Montgomery Water Works
  • Water Heater: Electric

Condo/Co-op/Association

  • Association Fee: No

Lot Info

  • Parcel Number: 03-10-05-16-03-012-001000

Rental Info

  • Owner Pay: Insurance, Pest Control, Taxes
  • Monthly Lease: 2850.00
  • Tenant Pay: Electric, Water/Sewer
  • Term Lease: 6-Monthy

Multi Family

  • Total Units: 5
  • Unit Count: 5

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Dec 12, 2023
Sold by
Tab Partners Llc
Bought by
Progressive Real Estate Llc
Current Estimated Value
$558,600

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$300,000
Outstanding Balance
$295,263
Interest Rate
7.76%
Mortgage Type
New Conventional
Estimated Equity
$263,337

Purchase Details

Listed on
May 23, 2022
Closed on
Sep 19, 2022
Sold by
B & E Estate Group Llc
Bought by
Tab Partners Llc
Seller's Agent
Jamie Thompson
EXIT Garth Realty
Buyer's Agent
Jamie Thompson
EXIT Garth Realty
List Price
$450,000
Sold Price
$305,000
Premium/Discount to List
-$145,000
-32.22%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
18.87%
Original Mortgage
$195,000
Interest Rate
5.22%
Mortgage Type
New Conventional

Purchase Details

Closed on
Dec 29, 2020
Sold by
Rauch Tammy and Grubbs Tammy
Bought by
B & E Real Estate Group Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$200,000
Interest Rate
2.7%
Mortgage Type
Future Advance Clause Open End Mortgage
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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Average Value
Not Available
List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Progressive Real Estate Llc $277,500 None Listed On Document
Progressive Real Estate Llc $277,500 None Listed On Document
Tab Partners Llc $305,000 None Listed On Document
Tab Partners Llc $305,000 None Listed On Document
B & E Real Estate Group Llc $100,000 None Available
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Progressive Real Estate Llc $300,000
Closed Progressive Real Estate Llc $300,000
Previous Owner Tab Partners Llc $195,000
Previous Owner B & E Real Estate Group Llc $200,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
09/21/2022 09/21/22 Sold $305,000 -12.9% --
09/16/2022 09/16/22 Pending -- -- --
08/28/2022 08/28/22 Price Changed $350,000 -18.6% --
06/17/2022 06/17/22 Price Changed $430,000 -4.4% --
05/23/2022 05/23/22 For Sale $450,000 -- --
Source: Montgomery Area Association of REALTORS®

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $2,577 $28,200 $3,920 $24,280
2024 $1,384 $28,200 $3,920 $24,280
2023 $1,384 $28,200 $3,920 $24,280
2022 $629 $17,220 $3,920 $13,300
2021 $1,047 $28,680 $0 $0
2020 $1,047 $30,800 $3,920 $26,880
2019 $1,047 $30,800 $3,920 $26,880
2018 $1,047 $28,680 $0 $0
2017 $758 $20,780 $3,920 $16,860
2014 -- $22,740 $5,880 $16,860
2013 -- $21,120 $5,880 $15,240
Source: Public Records

Agents Affiliated with this Home

  • J

    Seller's Agent in 2022

    Jamie Thompson

    EXIT Garth Realty

    2 in this area

    23 Total Sales

    Jamie Thompson
    Section Image
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Map

Source: Montgomery Area Association of REALTORS®

MLS Number: 517309

Montgomery Area Association of REALTORS®

APN: 10-05-16-3-012-001.000

Alabama Montgomery County Montgomery 36107 Forest Park

2620 E 3rd St, Montgomery, AL

Not Listed for Sale

MultiFamily

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